What Is Personal Accident Cover In Bike Insurance?
Published On Jun 02, 2021, Updated On Jul 21, 2021
Read this article to understand what personal accident cover is and its importance in bike insurance.
Table of Contents
Accidents are disturbing situations. It may put you in a lot of frustration especially if there has been damage to your prized bike. Having a bike insurance policy will surely help you to settle the expenses incurred by the repairs and damage to third parties. But, it is vital that you choose a policy that offers you such coverage. This article will guide you through the meaning and importance of having personal accident cover for your bike insurance policy.
What Is PA Cover?
Most insurance companies offer other facilities when you purchase bike insurance. These facilities are offered in the form of covers or add-ons which are to be added to your standard bike insurance policy. These covers have their own dynamic features which offer extra coverage to the policyholder. If you want to ensure maximum coverage, you can select a couple of insurance covers. Personal Accident Cover is one such insurance cover that offers to provide financial assistance to the owner in case of any accident. If you select this cover, your insurance company will settle the amount that you have spent to repair the damages to your bike or even your medical bills in case of any bodily injury.
Importance of Personal Accident Cover
Having a standard bike insurance policy may sound satisfactory. But, it is crucial that you consider other situations that are not covered by these policies. While a comprehensive bike insurance policy may offer a settlement for damages incurred to your bike, it does not cover the expenses of the damages caused due to collision. Therefore, having a personal accident cover will help you by offering you financial assistance to cover the costs that are incurred to pay your medical bills or repairs of your bike in case of an accident. The following are the points as to why you must purchase a PA cover for your bike insurance policy-
PA Cover Is Mandatory In India
The Indian Motor Vehicle Act has made it compulsory for all bike owners to have a personal accident cover along with a third-party bike insurance. If you are caught by the traffic police without the PA cover in your bike insurance policy, you can be held liable to pay heavy fines or even imprisonment.
Accidents can be traumatic. Being involved in an accident may be frustrating and taxing. Arranging finance in this situation can be nerve-racking and stressful. If you have a PA cover for your bike insurance, your insurance company will provide financial assistance by insuring the amount that must be spent for any repairs for your bike insurance or even medical bills in case of any bodily injury.
Assistance In Case Of Demise
Some major accidents may result in serious consequences like the death of a passenger or the policyholder. In such grieving cases, the insurance company will pay the 100% compensation amount to the nominee mentioned in the policy. The policy will also look after the financial needs of the family if there is no income.
What Is Covered By The PA Cover?
The personal accident cover will provide financial assistance when the policyholder has been involved in an accident and has sustained damage to the bike or in some cases bodily injury. The PA cover will compensate for the costs incurred for the repairs of any damage resulting from the collision of the bike. It will also provide 100% compensation in case of any permanent disability or tragic demise of the policyholder.
However, the insurance company will not settle your claim under personal accident cover if you have not adhered to the traffic laws at the time of the accident. The insurer will also reject your claim if it is found that the damage caused was intentional.
Insurance covers offer extra coverage to your standard insurance policy. But, their addition will also increase the cost of your bike insurance premium. Therefore, make sure to purchase the covers that you think are absolutely necessary and ensure that your bike gets maximum coverage.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.